Cardinal Health (CAH) Tops Q1 EPS by 3c; Lowers Guidance
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Cardinal Health (NYSE: CAH) reported Q1 EPS of $1.24, $0.03 better than the analyst estimate of $1.21. Revenue for the quarter came in at $32 billion versus the consensus estimate of $31.04 billion.
Cardinal Health sees FY2017 EPS of $5.40-$5.60, versus prior guidance of $5.48-$5.73 and the consensus of $5.59.
"Our first-quarter results were largely as we suggested they would be, with a healthy increase in revenue and a decrease in our operating earnings largely driven by conditions in the pharmaceutical distribution market," said George Barrett, chairman and CEO of Cardinal Health. "While short-term headwinds, particularly around pharmaceuticals, are quite challenging, our Medical segment had an excellent quarter building on the momentum coming out of fiscal year 2016. From an operating perspective, our metrics were strong in both of our reporting segments, and our strategic positioning is well-aligned with the changing needs of the market."
For earnings history and earnings-related data on Cardinal Health (CAH) click here.
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